Hyundai Motors will pass on the VAT benifit that they will receive from the Government to the consumers. This is going to be only a small amount but still its being done for some reason. Earlier a tax of 12.6 percent was paid as local sales tax which will be replaced now by 12.5% flat VAT charged to everyone. The 1% turnover tax will also not be levyied on the carmaker.
This percentage price cut will reduce the prices of the Santro XL by Rs. 2,000, the Hyundai Getz GLS by Rs. 3,000. The maximum price cut is obviously with the Sonata which is the highest priced car from Hyundai. Sonata prices will be reduced in Tamil Nadu by Rs. 10,000.
Hyundai January 4th 2007
